Morgan Creek’s Mark Yusko Says Bitcoin Ownership Is An Advantage Against Creeping Currency Devaluation

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Mark Yusko of Morgan Creek Capital Management has said that owning Bitcoin (BTC) and other crypto assets is a way to escape soaring inflation.

In a new interview with CNBC, the head of the investment management firm calls Bitcoin the “perfect” store of value asset in a world where governments are in a race to devalue their currencies.

“When you think of countries like Venezuela or Zimbabwe, where the countries themselves devalue their currencies by 99.99%, all your wealth is destroyed… It’s not so much that Bitcoin improves against these. currencies. These currencies are only getting worse. And the same is happening all over the world. There is a global race to the bottom.

When countries get very, very indebted, like we are in the West, the only way out is to devalue the currency. You can’t pay down the debt, you can’t restructure, you can’t default, so you have to devalue the currency. That is why you need a crypto base in your wallet as a store of value.

Yusko says investors shouldn’t be fooled by Bitcoin’s day-to-day price movements, which he says don’t necessarily reflect its true value. According to him, macroeconomic conditions could become “difficult” in the coming months and ownership of BTC could be an advantage.

“The price of BTC doesn’t matter. The price of the day is a liar. The value increases. The price is going to be volatile because humans and machines are volatile. What you want to do is continue to grow your ownership of the most powerful computer network the world has ever seen. Ownership is an advantage.

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Featured Image: Shutterstock / Jorm S

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